BitcoinNews.ca
  • Home
  • What Are Bitcoins?

MT. GoX - Bitcoin exchange registers with US Regulators

6/30/2013

0 Comments

 
Picture
The largest Bitcoin exchange site Mt. Gox has now formally registered in the US as a money service business with the FinCEN (Financial Crimes Enforcement Network) government agency. This is an important milestone is the fact that it further legitimizes the Bitcoin currency within the USA. 

"The Treasury Department’s Financial Crimes Enforcement Network, FinCEN, shows on their website that Mt. Gox’s registration as a money services business was received on Thursday 27th June.
Although the registration does not constitute approval by FinCEN of Mt. Gox’s activities, it is a sign that the bitcoin exchange is willing to abide by US rules in order to continue operating.

FinCEN issued guidelines applying traditional money-laundering rules to virtual currenciesin March amid concerns over the involvement of virtual currencies in money laundering. FinCEN stated that virtual currency exchanges must register with them as money transmitters and must comply with anti-money-laundering regulations. Although bitcoin was not mentioned by name in the guidelines, it was clearly implicated by mention of “decentralised virtual currencies”."


Source Article - Coindesk

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    New to Bitcoin...
    START HERE

    Check our posts for information related to what Bitcoin really is:
    • What is a Bitcoin?
    • Why are Bitcoins so great?
    • How do I spend Bitcoins?

    About The Author

    The site author has been interested in Bitcoin since June, 2011 and is extremely excited to see the future developments of this digital currency.

    Archives

    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012

    Categories

    All
    Butterfly Labs
    General Interest
    How To
    Investment
    Political
    Technology
    Welcome

    RSS Feed


Powered by Create your own unique website with customizable templates.